Understanding interest
Want to know more about how interest works? You’re in the right place.
Standard and cash interest rates
Your Barclaycard Payments statement show your standard interest rates also known as purchase rates, as well as your cash interest rates.
Simple and compound interest rates
Your Barclaycard Payments statement show your monthly simple rates and your annual compound rates. It’s important to understand how compound interest works – the longer it takes to clear your balance, the more you’ll pay in compound interest.
Bank of England Base Rate and how it affects you
Your standard and cash interest rates move in line with the Bank of England Base Rate. Your promotional balances are not affected by these changes.
FAQs
When the Bank of England Base Rate moves (up or down), your standard and cash interest rates also move by the same amount. But what is the Base Rate and how could these changes affect you?